Keefe, Bruyette & Woods Lowers Marqeta (NASDAQ:MQ) Price Target to $4.00

Marqeta (NASDAQ:MQ) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $5.00 to $4.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 3.63% from the stock’s current price.

Several other research firms also recently commented on MQ. Susquehanna decreased their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Tuesday, November 5th. Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, Mizuho cut their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.97.

Marqeta Stock Up 0.5 %

Shares of NASDAQ:MQ opened at $3.86 on Monday. The firm’s 50 day moving average price is $4.01 and its 200-day moving average price is $4.79. The stock has a market capitalization of $1.94 billion, a PE ratio of 193.00 and a beta of 1.52. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s revenue was up 20.8% on a year-over-year basis. Analysts expect that Marqeta will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nordea Investment Management AB raised its stake in shares of Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after acquiring an additional 441,617 shares in the last quarter. JPMorgan Chase & Co. raised its position in Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock valued at $6,499,000 after purchasing an additional 956,992 shares in the last quarter. Barclays PLC lifted its holdings in shares of Marqeta by 226.4% in the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock worth $4,238,000 after buying an additional 597,539 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Marqeta in the 3rd quarter worth $339,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of Marqeta during the 3rd quarter worth $786,000. Institutional investors own 78.64% of the company’s stock.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.